Looking to balance out your exposure to AMLX? The ETFs below have the lowest correlation with AMLX — they tend to move on their own, which can help reduce risk when AMLX drops. The stock ideas table highlights individual companies that behave independently from AMLX.
Best Diversifiers for AMLX
4 ETFs have low correlation with AMLX (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.12, roughly unchanged from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.12 | -0.07 | -0.05 | 100 | Ultrashort Bond | AMLX vs SGOV | |
| iShares 0-5 Year TIPS Bond ETF | 0.06 | 0.07 | 0.07 | 93 | Inflation-Protected Bonds | AMLX vs STIP | |
| Goldman Sachs Access Treasury 0-1 Year ETF | 0.06 | -0.01 | -0.02 | 100 | Government Bonds, Ultrashort Bond | AMLX vs GBIL | |
| Invesco S&P 500 Momentum ETF | 0.27 | 0.22 | — | 75 | Momentum, S&P 500 | AMLX vs SPMO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMLX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.07, roughly unchanged from 0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.07 | 0.08 | — | 78 | Technology | |
| BrightSpring Health Services, Inc | 0.11 | — | — | 96 | Healthcare | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.15 | 0.10 | — | 95 | Technology | |
| Novartis AG | 0.17 | 0.16 | 0.18 | 75 | Healthcare | |
| Ituran Location and Control Ltd. | 0.19 | 0.20 | 0.18 | 88 | Technology |
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